KPMG Australia to Cut 5% of Workforce Amid Scandal
KPMG Australia said on Monday it would cut about 5% of its workforce, affecting 27 partners and around 360 employees, as the accounting firm faces the fallout from a scandal involving the misuse of...
U.S. Jobless Claims Rise Moderately
U.S. initial jobless claims increased by 9,000 to a seasonally adjusted 209,000 for the week ended August 8, slightly above economists’ forecast of 202,000. The rise suggests the labor market remains relatively stable despite...
Canada Jobs Surge in July
Canada’s economy added 75,100 jobs in July, far exceeding expectations of 16,500, while the unemployment rate fell to 6.4%, its lowest level in two years. The strong data suggests the economy is showing resilience...
Italy to Exit MPS Stake Without Affecting Merger Plans
Italy will manage the sale of its remaining 4.86% stake in Monte dei Paschi di Siena (MPS) in a manner that does not interfere with ongoing merger and acquisition activities involving the bank, Economy...
Trump Visits Las Vegas to Promote Tax Cuts Ahead of Midterm Elections
U.S. President Donald Trump is set to visit Las Vegas on Wednesday to highlight his administration’s tax-cut policies and strengthen Republican support ahead of the November midterm elections. The visit comes as Republicans work...
US Expands Import Ban to 43 Chinese Companies Over Uyghur Rights Concerns
The United States has added 43 more Chinese companies to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List, citing alleged links to human rights abuses against Uyghurs and other minority groups in China’s...
Boeing Posts Bigger Q2 Loss Despite Positive Cash Flow
Boeing reported a larger-than-expected loss for the second quarter after taking a $280 million charge tied to its delayed Air Force One replacement program. The company posted a net loss of $428 million, with...
Spain’s Public Works Projects Stall as Rising Costs Keep Builders Away
Spain is witnessing a sharp rise in unawarded public works tenders as construction companies pull back from bidding amid escalating costs and uncertainty linked to the Middle East conflict. According to the country’s main...
EU Challenges JD.com’s Ceconomy Takeover Over Foreign Subsidy Concerns
The European Commission on Wednesday issued a formal statement of objections to Chinese e-commerce giant JD.com regarding its proposed acquisition of German electronics retailer Ceconomy, intensifying its investigation into the deal under the EU’s...
EU Pushes to Ease Cross-Border Bank Mergers to Boost Global Competitiveness
The European Commission plans to reduce political interference in banking mergers and remove barriers to cross-border consolidation within the European Union, aiming to help European banks compete more effectively with larger U.S. financial institutions....